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24-07-2024 WEDNESDAY

Commodity currencies touched multi-week lows in Asian Market opening trades today tracking weakness in Chinese demand, while the yen has surged as short sellers bail out ahead of a central bank meeting. Purchasing managers\' index figures will be particularly watched in Europe later in the session to see whether they support bets on two European rate cuts by the end of January. The euro held at $1.0848 and sterling, which could rally if PMIs in Britain surprise to the upside and reduce bets on rate cuts, bought $1.2901. Markets price a 44% chance of a 10-basis point rate hike in Japan next week and speculators, having also been rumbled by a few rounds of suspected currency intervention from Japan, are closing what had been profitable \"carry trades\" funded in yen. Fall in oil, iron ore and copper prices as well as a ripple of risk aversion in equities have dragged currencies such as the Australian, New Zealand and Canadian dollars down on the U.S. dollar. Dollar/yen fell nearly 1% to 155.547. The Indian rupee opened marginally stronger at 83.64/65 against its previous session’s close of 83.69/70 and is expected to trade between 83.60 – 85.75 band today.  The Indian rupee opened unchanged at 83.69/70 against its previous session’s close of also 83.69/70 and is expected to trade between 83.60 – 85.75 band today.
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Dollar Rupee

 
MIDDAY REPORT


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INR Rates

Symbol   Bid  ASK
USD83.5325 83.5425
GBP105.62685 105.68532
EUR89.3213 89.35472
JPY0.52556 0.52563
CHF93.58335 93.6463
AUD55.52405 55.55747
SGD61.66125 61.69313
CAD60.98598 61.0038
NZD51.14695 51.17201
*Closing Rates on : 2024-06-21

Stock Indices

IndexPointsChange
BSE Sensex80218.48-210.56
S&P CNX Nifty24428.1-50.95
NASDAQ19754.337-68.528
HangSeng17337.64-131.72
DJ IA31097.9756.84
DAX18576.91169.84
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